Trading suggestion:

• We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

Midterm forecast:

• While the price is above the support 0.61600, beginning of uptrend is expected.
• We make sure when the resistance at 0.65300 breaks.
• If the support at 0.61600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• There is a divergence in RSI and price between the trough at 0.62098 on 2022-10-13 and the trough at 0.61634 on 2022-12-21, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
• The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
• A trough is formed in daily chart at 0.62985 on 01/19/2023, so more gains to resistance(s) 0.64680 and maximum to Major Resistance (0.65300) is expected.
• Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
• Relative strength index (RSI) is 56.

Take Profits:

1. 0.65300
2. 0.65643
3. 0.66368
4. 0.67124
5. 0.67715
6. 0.68384
7. 0.68956
8. 0.70001
9. 0.70800
10. 0.72600